When America stirs, the rest of the world takes notice.
Rising US interest rates could mean higher debt repayments for emerging market governments and businesses - as the amount owed is denominated in dollars.
And with higher interest rates in America, investment capital will be encouraged across the Atlantic and away from Asia in the hunt for better returns.
That could affect Europe as well.
On the upside, the stronger dollar which has followed the rise might be good for European and Asian economies as it means exports to America are cheaper.
Read More: The global impact of the US interest rate rise - BBC News
Rising US interest rates could mean higher debt repayments for emerging market governments and businesses - as the amount owed is denominated in dollars.
And with higher interest rates in America, investment capital will be encouraged across the Atlantic and away from Asia in the hunt for better returns.
That could affect Europe as well.
On the upside, the stronger dollar which has followed the rise might be good for European and Asian economies as it means exports to America are cheaper.
Read More: The global impact of the US interest rate rise - BBC News